MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA reduced its holdings in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 78,265 shares of the company’s stock after selling 5,904 shares during the quarter. Leeward Investments LLC MA owned approximately 0.36% of MGP Ingredients worth $3,081,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Farther Finance Advisors LLC raised its stake in MGP Ingredients by 45.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 597 shares of the company’s stock worth $50,000 after acquiring an additional 186 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of MGP Ingredients by 162.0% during the fourth quarter. GAMMA Investing LLC now owns 697 shares of the company’s stock worth $27,000 after purchasing an additional 431 shares during the last quarter. Versant Capital Management Inc increased its position in shares of MGP Ingredients by 192.5% during the fourth quarter. Versant Capital Management Inc now owns 699 shares of the company’s stock worth $28,000 after purchasing an additional 460 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of MGP Ingredients by 73.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 760 shares of the company’s stock valued at $63,000 after purchasing an additional 322 shares during the last quarter. Finally, Point72 DIFC Ltd boosted its position in shares of MGP Ingredients by 2,375.6% in the 3rd quarter. Point72 DIFC Ltd now owns 1,015 shares of the company’s stock valued at $84,000 after purchasing an additional 974 shares during the period. Hedge funds and other institutional investors own 77.11% of the company’s stock.

MGP Ingredients Stock Performance

Shares of MGPI opened at $32.19 on Monday. The stock has a market capitalization of $706.57 million, a P/E ratio of 6.69 and a beta of 0.62. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.94 and a current ratio of 6.46. MGP Ingredients, Inc. has a 1 year low of $31.81 and a 1 year high of $92.52. The company’s fifty day moving average is $36.51 and its two-hundred day moving average is $57.53.

Analyst Upgrades and Downgrades

MGPI has been the topic of several research analyst reports. Truist Financial cut their price target on MGP Ingredients from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Roth Mkm cut their target price on shares of MGP Ingredients from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. StockNews.com upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. TD Cowen downgraded shares of MGP Ingredients from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $66.00 to $50.00 in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company reduced their target price on shares of MGP Ingredients from $58.00 to $44.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, MGP Ingredients has a consensus rating of “Moderate Buy” and an average target price of $71.29.

MGP Ingredients Profile

MGP Ingredients, Inc, together with its subsidiaries, engages in the production and supply of distilled spirits, branded spirits, and food ingredients in the United States and internationally. The company operates through three segments: Distillery Solutions; Branded Spirits; and Ingredient Solutions.